DETROIT- After a successful first year, Hatch Detroit is looking to expand its reach with help from a new corporate sponsor.

The Detroit-based nonprofit organization today announced it is teaming up with Comerica Bank to offer entrepreneurs another chance at $50,000, and help grow existing businesses.

“We’re excited about it,” said Ted Balowski, who founded Hatch Detroit last year with fellow Birmingham resident Nick Gorga. “We were looking for an opportunity to really grow and expand our reach, so Comerica was a partner that had been keeping tabs on that we were doing.”

This year, the “Comerica Hatch Detroit Contest” will offer the same chance to another promising retail business entrepreneur, and allow Hatch Detroit to focus on expanding its reach to help already established businesses, according to Balowski.

“The contest focuses a lot on new businesses and new entrepreneurs with new ideas, and some of the initiatives we have going forward are also going to help existing businesses,” he told MLive.com.

Last year's contest garnered hundreds of Detroit retail business ideas and thousands of votes for the the 10 semi‐finalists. Balowski said Comerica Bank, which is providing the full prize amount for the contest, should help bring more ideas and votes.

“As a bank that has a stake in the future of our region, we are proud to make this investment in Hatch Detroit, and in the city and communities we serve,”
said Thomas D. Ogden, president of Comerica Bank‐Michigan, in a statement.

Hatch Detroit expects to begin accepting applications for the "Comerica Hatch Detroit Contest" on June 1.

The Comerica sponsorship is for one year, but officials said it already appears to be a winning partnership.

“With Comerica's sponsorship, we are thrilled to bring together the energy and passion of the city's grassroots organizations with the breadth and strength of one of the city's venerable companies to help support, promote and fund the amazing ideas percolating in our city,” Gorga said in a statement.